Want to trade with proprietary strategies developed by FXCM? Find out how here.

Bank of Japan (BOJ) Governor Kuroda spoke at the annual meeting of the National Association of Shinkin Banks, held in Tokyo today. He remarked at the ensuing press conference on the BOJ’s commitment to continue with the unconventional monetary easing until its 2 percent inflation target is met, which was set a year ago. He further alluded that the sales tax increase from 5 percent to 8 percent, which was enacted on April 1st, is causing some economic fluctuations. However, he reiterated that Japan’s economy was recovering moderately and inflation was to pick up in the second half of 2014.

Following the press conference, the Yen advanced slightly higher against the Greenback to trade at 101.921.